Berkshire Offers Up Insurance Claim Details After SEC Probe

Law360, New York (June 14, 2013, 6:20 PM EDT) -- Warren Buffett's Berkshire Hathaway Inc. has agreed to be more transparent with shareholders about its catastrophe insurance claims and its reserve adjustment policies in response to a U.S. Securities and Exchange Commission inquiry, according to documents made available Thursday.

The SEC asked Berkshire about both issues in early April, saying its disclosure of the after-tax impact of catastrophe losses for 2010 to 2012 was insufficiently specific and identified only one event — Hurricane Sandy — while remaining otherwise ambiguous.